by Stefan Lindegaard
I just had three interesting sources of inspiration that serve as good examples on how innovation is fast becoming more open and global.
My first source of inspiration was a great article in New York Time: The Rise of the Fleet-Footed Start-Up. Here we are introduced to the term “lean start-up” which is a concept that is gaining a following in Silicon Valley and beyond.
An excerpt from the article: “…so the lean playbook advises quick development of a “minimum viable product,” designed with the smallest set of features that will please some group of customers. Then, the start-up should continually experiment by tweaking its offering, seeing how the market responds and changing the product accordingly. Facebook, the giant social network, grew that way, starting with simple messaging services and then adding other features.
The goal, explains Mr. Blank, is to accelerate the pace of learning. “A start-up is a temporary organization designed to discover a profitable, scalable business model,” he says.”
I really like this definition of a start-up. Imagine what could happen if established companies embraced a similar definition for their innovation projects…
For the second source of inspiration, I visited the website of Tata Consultancy Services (TCS) and their innovation offerings within IT-related areas. As a part of their setup, TCS has the Co-Innovation Network (COIN™) which they define as a rich and diverse network that brings value to customers from the entire technology landscape.
Companies should not outsource all of their innovation processes, but they should consider looking into how service providers such as TCS can add new perspectives. Yes, TCS focus on IT-related areas, but I am confident there are – or will be – similar setups in many other industries.
I think the below quote from my third source – an article in SiliconValley.com – will inspire you to read further on how Chinese companies are bargain hunting in Silicon Valley:
“We ask them, what is your objective? Are you here to acquire people, technology or assets?” said Lilly Chung, a partner in Deloitte who advises Chinese companies. “They say, ‘Oh, we really don’t know. The assets look cheap. It’s an opportunity. We’ll get it and figure out what to do.’ “
When China spends big in Silicon Valley, some see threats, others see opportunities. What do you see?